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As the traditional sales tax base relating to transactions involving tangible goods has shrunk, state taxing authorities are continually looking at ways to expand that tax base without a need for legislative changes. Whether it be targeting royalty income, increasing the form-based burdens associated with accepting exemption certificates, targeting journal entries associated with accrual based accounting, or creating a litany of hurdles relating to export sales, departments are on the hunt for revenue.
Corporate tax departments are continually being asked to provide more documentation to defend assessments on transactions which are clearly not taxable or oftentimes have already been subject to tax. This session focuses on discussing these issues and preparing for the fight before it shows up at your door.
- Evaluate the innovative issues that state taxing authorities are raising during audit review and determine which of these their companies may be susceptible to.
- Identify what steps should be taken to prepare for defending a potential assessment based on the relevant audit issues that other taxpayers are currently working through.
- Enable their organization to embrace the power of technology to automate processes to create and retain documentation to defend against these novel audit issues.